The Impact of Artificial Intelligence Investment on Market Value: An Event Study

被引：0
|
作者：
Lui, Arid K. H. [1 ]
Lee, Maggie C. M. [2 ]
Ngai, Eric W. T. [2 ]
机构：
[1] Swinburne Univ Technol, Melbourne, Vic, Australia
[2] Hong Kong Polytech Univ, Hong Kong, Peoples R China
来源：
AMCIS 2020 PROCEEDINGS | 2020年
关键词：
Artificial intelligence (AI); event study; market value; contextual factors; TECHNOLOGY;
D O I：
暂无
中图分类号：
TP301 [理论、方法];
学科分类号：
081202 ;
摘要：
In recent decades, many firms have invested in artificial intelligence (AI) and used them in business applications across industries. However, understanding of the impact of AI on firm value is limited. In this study, 67 AI investment announcements of 42 listed firms were analyzed by adopting the event study methodology. Results reveal that AI investment has a negative impact on a firm's market value, as the stock price of the firms decreased by 1.77% on the day of the announcement. The result also shows that comparing with stable market environment, investors response more negatively to AI investment announcements under unstable market environment.
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页数：5
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